Your first job out of college will pay you $63,000 in year 1 (exactly one year from today), growing at a rate of 2.9% per year thereafter. You will also receive a one time bonus of $41,000 at the same time as your first salary. You plan to retire in 38 years (you'll receive 38 years of salary). If the applicable discount rate is 6%, what is the present value of these future earnings today? Round to the nearest cent.